Free Trial

Bull Wave Falters

EURUSD TECHS
  • RES 4: 1.1396 High Feb 16 2022
  • RES 3: 1.1355 1.382 proj of the May 31 - Jun 22 - Jul 7 price swing:
  • RES 2: 1.1313 High Feb 24 2022
  • RES 1: 1.1274 61.8% retracement of the Jan ‘21 - Sep ‘22 bear leg
  • PRICE: 1.1151 @ 16:08 BST Jul 20
  • SUP 1: 1.1095 High Apr 26 and recent breakout level
  • SUP 2: 1.1012 High Jun 22
  • SUP 3: 1.1004 Low Jul 12
  • SUP 4: 1.0930 20-day EMA

EURUSD faded further Thursday, hitting the week’s lowest levels ahead of the close. Prices continue to chew through a small part of the sharp gains posted after US CPI last week, with the weakness following the failed break of first key resistance at 1.1274 level. Nonetheless, moving average studies remain in bull-mode, reinforcing current upward trend conditions. On the downside, initial firm support lies at 1.1095.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.